The USD 40.8 support, currently tested, should allow Delta Air Lines to rally again.

From a fundamental viewpoint, the company seems undervalued relatively to its peers with a EV/Sales of 0.88.
However, analysts have revised slightly downward their earnings forecasts.
Delta Air Lines is currently paid 6.45 and 6.1 times the future profits.

The security follows a downward trend in the short term, under the USD 45.8 resistance area, but should be stopped by the USD 40.8 level.
In the mid-term, the trend is neutral. The stock is trading within a range between USD 40.8 and USD 50. Delta Air Lines is not likely to continue its downtrend because it is near to the strong USD 40.77 support with an oversold condition.

Therefore, the proximity of the USD 40.8 support is an opportunity to go long on Delta Air Lines. The first goal is a return in the USD 45.8 resistance area, that is a potential of around 10%. In fact, the security has to cross this area in order to re-establish a bullish trend in the mid term. A stop-loss order can be placed under the support currently tested.